First Mover Americas: FTT Token at Center of New U.S. Charges in FTX Case

The U.S. Securities and Exchange Commission (SEC) has called FTX’s FTT exchange token a security. FTT was sold as an investment contract, and is a “security,” the SEC said in a complaint filed late Wednesday, in a move that is sure to have a wide-ranging impact on the industry. “If demand for trading on the FTX platform increased, demand for the FTT token could increase, such that any price increase in FTT would benefit holders of FTT equally and in direct proportion to their FTT holdings,” the SEC wrote in its complaint.

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• Source: https://www.coindesk.com/markets/2022/12/22/first-mover-americas-ftt-token-at-center-of-new-us-charges-in-ftx-case/?utm_medium=referral&utm_source=rss&utm_campaign=headlines